The Thai SEC and central bank plan to launch a "crypto sandbox" to support foreign tourists in converting crypto assets into Thai baht for consumption.

According to the Bangkok Post, the Thai Securities and Exchange Commission (SEC) and the Bank of Thailand plan to launch a crypto regulatory sandbox for foreign tourists, allowing tourists to convert digital assets into Thai Baht through licensed platforms and use them through locally regulated electronic payment services. The plan is in the public hearing stage, with an initial service period of up to 18 months, prohibiting direct crypto payments and requiring conversion to fiat currency for transactions. The policy aims to enhance tourism competitiveness through crypto-financial technology and is expected to be implemented by compliant institutions including Gulf Binance. However, the Tourism Council of Thailand (TCT) warned against a hasty launch, calling for strengthened anti-money laundering measures and improved overall ecological preparedness. [ChainCatcher]